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On January 1, 2016, Bacon Company had a balance of $178,000 in its Land account....

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Accounting

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On January 1, 2016, Bacon Company had a balance of $178,000 in its Land account. During 2016, Bacon sold land that had cost $71,000 for $95,000 cash. The balance of the Land account on December 31, 2016, was $210,000. Based on this information, what was the cash outflow for the purchase of land during 2016? Multiple Choice 0 $83,000 $107,000 $103,000 0 $127,000

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